CRH delivers record earnings of €3.37bn in 2018

CRH delivers record earnings of €3.37bn in 2018

Building materials group CRH has reported record earnings of €3.37bn in respect of 2018.

The earnings margin of 12.6pc was up 10 basis points on the prior year.

Ireland’s largest company delivered sales of €26.8bn last year, a 6pc increase on the prior year, according to annual results from the group.

Like-for-like sales were up 3pc. In Europe like-for-like sales were up 2pc, while like-for-like sales were up 4pc and 8pc in the Americas and Asia respectively.

Group profit for the year jumped a massive 31pc to €2.5bn, while CRH increased its dividend per share 6pc to 72 cent.

Albert Manifold, chief executive of CRH, said: “2018 was another year of record profit delivery for CRH.”

“We benefited from good demand and continued favourable market fundamentals in the Americas coupled with positive underlying momentum in Europe.”

“Both were experienced against a backdrop of energy-related input cost inflation and significant weather disruption throughout the year but with a continued focus on performance improvement and operational delivery, margins were ahead of last year,” Mr Maniford added.

During the period the group completed €3.6bn worth of acquisitions and €3bn of disposals.

It also returned €800m to shareholders in 2018 though its share buyback programme.

Looking forward, Mr Manifold said CRH remained “well positioned” to build on the gains made in 2018.

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“With a relentless focus on continuous business improvement, margin expansion, cash generation and returns for shareholders, together with continued strong financial discipline and efficient allocation of capital, we believe 2019 will be a year of progress and further growth for the group,” he said.